With higher premiums and insurance carriers leaving the ACA exchange, some people are frustrated with their health care costs. The volatile insurance market has greatly affected businesses that offer benefits and those that planned on offering employee benefits. Large corporations may be able to cope with the changing health care rates, but many small business owners and entrepreneurs are suffering from them.

For that reason, we wanted to share the different plans that small to mid-sized businesses can utilize to cut their health care costs. Hence, we analyzed the three common health plans that businesses use to offer employee benefits: the fully insured (fully-funded) health plan, the self-insured (self-funded) health plan, and the level funded health plan.

Looking to improve the culture in the workplace? Well, one excellent method to improve the work environment is to offer unique perks and benefits to employees. These special benefits can help retain and acquire top employees while improving employee spirit. That’s why so many large corporations like Netflix, Google, and Facebook have established these unique perks. Some of these benefits require a lot of funding, while others are relatively cheap. Either way, here are 5 benefits that business owners should try to utilize.

With the open enrollment deadline quickly approaching, we thought you’d appreciate a breakdown on the pros and cons of a health savings account (HSA) and a flexible spending account (FSA). These accounts can be provided by your employer, so you have money to spend on your medical expenses. Although they may have similarities, you want to choose the account that’ll save you the most on your healthcare costs.

So let’s start off by breaking down the HSA and FSA, to better understand them. That way, you’ll be able to comprehend the differences between them to help you choose the right fund for you. Continue reading →

With the enrollment period quickly approaching, I thought you should get a quick overview of some of the premium increases that may be heading your way. The cheapest silver plan is the basis of this analysis because it is the most commonly purchased plan in the ACA market exchange. The premiums of major cities in various state are observed due to their high population. Also, let it be known that these rate increases are not official and are still seen as preliminary data.